In addition to increasing its own direct originations of subprime credit cards, CompuCredit Corp. announced last week that it will acquire a lender specializing in the subprime sphere for $106 million, a deal that should close late this quarter, according to Chief Executive Officer David Hanna.

While the company has roughly $140 million in available financing through its Merrill Lynch securitization facility, CompuCredit will use equal parts cash and debt to finance the acquisition.

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